Colombia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Colombia

The Colombian non-cotton terry towelling market surged to $X in 2021, jumping by 78% against the previous year. Over the period under review, consumption showed a significant expansion. Non-cotton terry towelling consumption peaked in 2021 and is expected to retain growth in years to come.

Non-Cotton Terry Towelling Production in Colombia

In value terms, non-cotton terry towelling production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.4% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 44% against the previous year. Non-cotton terry towelling production peaked at $X in 2020, and then fell in the following year.

Non-Cotton Terry Towelling Exports

Exports from Colombia

In 2021, exports of terry towelling (excluding of cotton) from Colombia dropped to X square meters, stabilizing at 2020. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2015 when exports increased by 1,108% against the previous year. As a result, the exports attained the peak of X square meters. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cotton terry towelling exports expanded to $X in 2021. Overall, exports showed a deep contraction. The growth pace was the most rapid in 2015 with an increase of 766% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahamas (X square meters) was the main destination for non-cotton terry towelling exports from Colombia, accounting for a 91% share of total exports. Moreover, non-cotton terry towelling exports to Bahamas exceeded the volume sent to the second major destination, Costa Rica (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bahamas stood at +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+38.4% per year) and Panama (-41.8% per year).

In value terms, Bahamas ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from Colombia, comprising 80% of total exports. The second position in the ranking was taken by Panama ($X), with an 8.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahamas amounted to +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-28.5% per year) and Costa Rica (+45.6% per year).

Export Prices by Country

In 2021, the average non-cotton terry towelling export price amounted to $X per square meter, rising by 4% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-cotton terry towelling export price increased by +78.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 57% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per square meter), while the average price for exports to Costa Rica ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports into Colombia

Non-cotton terry towelling imports into Colombia soared to X square meters in 2021, rising by 72% compared with the previous year's figure. In general, imports posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 1,006%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, non-cotton terry towelling imports soared to $X in 2021. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 636% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X square meters) constituted the largest non-cotton terry towelling supplier to Colombia, with a 78% share of total imports. Moreover, non-cotton terry towelling imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X square meters), fivefold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +114.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+41.5% per year) and Panama (+70.5% per year).

In value terms, China ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Colombia, comprising 59% of total imports. The second position in the ranking was held by Pakistan ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +116.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+53.7% per year) and Panama (+109.8% per year).

Import Prices by Country

In 2021, the average non-cotton terry towelling import price amounted to $X per square meter, jumping by 20% against the previous year. Overall, the import price continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 224%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Panama ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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